Similarweb (NYSE:SMWB) Sees Unusually-High Trading Volume

Similarweb Ltd. (NYSE:SMWB) saw unusually-high trading volume on Tuesday . Approximately 584,785 shares were traded during mid-day trading, an increase of 238% from the previous session’s volume of 173,180 shares.The stock last traded at $9.50 and had previously closed at $9.02.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SMWB shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, JMP Securities raised their target price on shares of Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.20.

Similarweb Stock Up 3.1 %

The firm has a market cap of $744.04 million, a PE ratio of -37.96 and a beta of 0.76. The stock has a 50 day moving average price of $7.43 and a two-hundred day moving average price of $7.87.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. The company had revenue of $60.64 million during the quarter, compared to analysts’ expectations of $60.23 million. As a group, equities analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. Scalar Gauge Management LLC increased its holdings in shares of Similarweb by 56.8% in the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after purchasing an additional 215,221 shares during the period. Acadian Asset Management LLC boosted its position in Similarweb by 60.8% in the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after buying an additional 167,500 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Similarweb in the 1st quarter worth approximately $2,820,000. Roubaix Capital LLC purchased a new position in Similarweb during the 1st quarter worth approximately $2,449,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Similarweb during the 1st quarter valued at approximately $2,344,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.